Financial Ratios. The following financial statements are from Rainey Company

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Find the following ratios:

(a) Inventory turnover for 1998 .

(b) The average market price of Rainey stock, if the price-earnings ratio is 8 .

(c) The earning power ratios for 1998

(d) The current ratio by the end of 1998.

(e) Cash flow per share from operations in 1998

(f) Gross margin percentage for 1998 .

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Cash.. Accounts receivable (net) Inventories Fixed assets (net). Total assets. Accounts payable Bonds payable.. Common stock (par value $10) Retained earnings. Total liabilities and equity 12/31/1998 $ 14,000 22,000 12/31/1997 $ 16,000 28,000 65,000 55,000 85,000 79,000 $186,000 $178,000 $ 30,000 60,000 $ 15,000 75,000 60,000 60,000 36,000 28,000 $186,000 $178,000 1998 Sales. $360,000 Less: Cost of goods sold 240,000 Operating expenses Income taxes... Income after taxes. $ 12,000 100,000 (Includes $20,000 of depreciation expense) 8,000